Professional Community for Car Dealers, Automotive Marketers and Sales Managers
|by Katy Scheck, Director of Interactive Marketing/Marcom|
I’m a typical Seattleite when it comes to baseball— a rainy day fan who goes to one Mariners game a year and stays until the fourth inning. Just enough time to drink a couple beers (the tall ones), eat a hotdog, maybe share some nachos, and catch some peanuts from that really popular peanut throwing guy.
Would I stay for the whole game if my city boasted a World Series winning team or even a winning record? Between you and me, probably not. But I would definitely stay an extra couple innings for garlic fries.
My gluttony aside, I do actually appreciate the game of baseball. Specifically, as a marketer, I appreciate the strategy and science that has been embraced by the sport and started by Billy Beane. Clearly I’m not the only one.
There’s been some recent chatter about what car dealers can learn from Billy Beane. It’s also the subject of our most recent eBook, Automotive Moneyball – The Best Kept Secret to Hitting Your Digital.... Just like Billy– when it comes to marketing I believe in a lot of metrics and a little bit of gut. Although I’ve yet to figure out the marketing equivalent of a perfect game (aka true closed loop reporting, tying every marketing interaction to a sale), I feel like I’m getting closer every day. Looking at patterns, measuring engagement, and constantly refining my marketing approach has so far proven successful.
You have the same opportunity in your dealership. As Dave Hollander & Alyson Sharron wrote in our latest eBook, Automotive Moneyball:
“In the same way that Moneyballers used more refined equations to establish new combinations of numbers to evaluate player potential, it’s time to start using a more sophisticated mix of metrics to evaluate our marketing success. It’s time for your dealership’s performance tracking to become more precise, more actionable and more immediate. How?
Our scouting department set out to answer that question. Cobalt Researchers analyzed billions of online shopping activities. Literally. Billions. If you’ve been looking for a car, chances are, we’ve been watching. But that’s not all. They also broke down who purchased, as well as what they bought.*
So what’d they do next? They took a nap. That $#!+’s exhausting.
Kidding. They went back and began the painstaking process of tying those shopper interactions to those vehicle sales. They looked at who bought, what they did before they bought and the common patterns of behavior these shoppers share. Then they linked those patterns of behavior back to the resulting car sales.
This closed loop network analysis revealed a new set of customer activities that, when layered together within reoccurring patterns, have proven to lead to sales. It’s within these patterns of consumer behavior that we can gain insight into how engaged shoppers are and how likely they are to buy.
The coolest part? These shopping patterns do more than recap the past. They predict the future. We can use these popular paths to purchase to help steer future shoppers through theirs’, and towards your dealership.”
*We examine everything except the identity of the shopper. So don’t worry. No shoppers were harmed in the making of this eBook.
The above excerpt from our eBook is just getting to first base. It’s time to hit a home run with your dealership marketing efforts. Check out the entire eBook to get some great insights into the new automotive KPIs you should be thinking about as well as tips on how to leverage your advertising partner to maximize your advertising efforts and spend.
And, let me know in the comments below…. Nachos or garlic fries? I’m going to a Mariners game tonight and can’t decide.
Let’s face it… analytics is a real pain in the assessment. Download the new eBook, Automotive Moneyball, to learn how to set your advertising budgets based on the metrics that move metal.
About the Author
|Katy Scheck has over 12 years of marketing experience in the media, finance and automotive technology fields. As Cobalt’s Director, Interactive Marketing/Marcom, Katy leads Cobalt’s marketing and corporate communications team and efforts. Katy directed Cobalt’s recent website relaunch and manages the Cobalt brand, content marketing and integrated digital marketing programs. Her team is focused on bringing actionable insights to market that can help dealers drive digital marketing to sell cars. Katy owes her passion for automotive digital marketing innovation to her first car, a 1982 white Datsun that didn’t go in reverse— a fact that she more often than not forgot in parking lots. Consequently, Katy spent most of the 90’s pushing her Datsun out of parking spaces, mumbling incoherently about the need for a more customer friendly car shopping and servicing experience. Katy would love to hear from you. You can reach her at firstname.lastname@example.org.|